Will The Global Chip Shortage Affect Black Friday 2021?
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Why is there a chip shortage? Should you wait until Black Friday to shop for electronics this year? We answer these questions and more.
The chips are really down this year!
If you’ve been shopping lately, you’ve likely noticed that there’s a shortage of everything from your favorite snacks, building materials, clothes, furniture, and most notably, electronics – especially due to the global chip shortage. With COVID-19 cases around the world on the upswing, and most areas still recovering from the fall out last year, we are now truly starting to see the ripple effect of the supply shortages.
Many of the goods that our country uses originate in Southeast Asia where factories have repeatedly had to suspend production due to outbreaks in record numbers.
One of the key components in many of the hard-to-find items is semiconductor chips. These chips are found in everything from appliances, televisions, streaming devices, radios, computers, and even your car’s wireless keyfob remote. They are basically the brains behind the brand and make your favorite devices work as they should.
Need to buy a car? It’s gonna cost ya even more!
New and used car prices are at an all-time high due to the chip shortage. Most cars today have advanced smart features that heavily rely on these highly sought-after semiconductor chips. Automakers have been shutting down their production lines for weeks at a time while they wait on chips to arrive in addition to increasing numbers of COVID cases leaving them shorthanded with labor.
Shoppers are quickly finding that new car prices are sometimes inflated $3-$8k OVER sticker price for high demand brands and models as well as extended wait times. This has caused a major surge in used car sales which have also rapidly increased in price due to the demand.
It’s a seller’s market!
I’ve been shopping around in search of a reliable used car for my daughter, and I’m finding that most are going for thousands over what they normally sell for. I purchased my used car in 2019 and now cars similar to mine with way more miles on them are selling for MORE than I paid for it two years ago. It’s crazy! So if you want to get rid of a car, now is the time to do it and reap the benefits of the increased used car values.
I also recently needed to buy a printer, so I headed into Office Depot to take a look at the various models I was considering buying. The shelves of my local store were bare with only display models that couldn’t be purchased and a very limited amount of inkjet printers to choose from.
If you’re looking for a color laser printer, the pickings are slim these days too. This chip shortage sure makes it difficult for a deal hunter like me!
So what does this mean for Black Friday 2021?
While we cannot predict exactly what will happen this Black Friday, we totally expect the deals to be lackluster compared to previous years. With longer shipping times, supply shortages, and lack of manpower contributing to delays, it’s no secret we’re likely in for a boring deal season. 🥱
Many news sources are even predicting that prices will continue to climb during the holiday shopping season into next year. Oh man, say it isn’t so! 😫
Since many items will be coming at a premium due to the chip shortage, now is the time to take stock of what you have and figure out what immediate needs you’ll have in the upcoming months. Had your eye on a new gaming system or Chromebook for the kiddos this Christmas? Right now may just be the time to grab one before pricing continues to climb and with inventory diminishing.
Here are four of my favorite ways to save on electronics during this global chip shortage…
Check Hip2Save daily.
Instead of replacing your computer, why not upgrade the existing one you have?
I don’t know about you, but I’ve found some really great bargains on my local Facebook Marketplace. You really can find just about anything on there and many times sellers will be moving or upgrading so they’re likely to offer better deals to get the items out the door. Craig’s List, eBay, and Offer Up are also great options, just be sure to exercise caution when buying from an individual vs. a retailer.
Shop Amazon Warehouse & Amazon Renewed.
If you haven’t checked out the deals from these sections on Amazon’s website, you’re missing out! You can often find great deals on returned/renewed items with savings up to 50% off. Basically, these products were previously owned, but in great condition, and have been assessed and deemed quality by Amazon, and are worth selling. No surprises – you know exactly what you’re getting, and they’re guaranteed!